Thailand Travel Guide: Money

Thai Money

Thai Baht

Baht is the Thai currency which is steadily increasing, meaning you get less baht for your dollars than you would have 2 years ago. No worries, your dollars still go much further than they would at home! You may also see it spelled as “bath.” How many baths does a bag of chips cost??

When I was in Thailand, King Bhumibol’s (Rama IX) image was still on the paper bills and coins. He was King for 70 years, the longest-reigning monarch in Thai history. His son is now King Rama X and banknotes with his image are now in circulation. Either way, the King’s image is on your currency and thus is due respect. 

Overall, cash is the best. I prefer to have some on hand before I travel and if you do, too, you’ll have to order it specially, either from your bank or a Travel Center and it can take a week or so. However, you can use your American debit card at a Thai ATM safely. My credit union bank charged me $1.50 ATM fee and 1% fee of the American value. So, I withdrew 10,000 baht ($312.09 at the time) and was charged $1.50 + $3.12. Not bad actually. I got charged more for using an ATM this summer in Montana! 10,000 baht was enough to rent a room for a month with a deposit, get basics, and eat/drink for a month. Check with your bank for fees before you go! Set that travel alert!

Most 7 Elevens have several different ATMs out front, each color is a different bank. We used the green one, Kasikorn Bank, with no issues. The baby blue is the government bank. There’s also purple and orange banks, if you prefer.

Pro tip: Thai ATMs give you money BEFORE your card! Don’t leave the ATM without your card otherwise you are, indeed, screwed until you get home.

Taking out a couple large amounts versus several smaller amounts is better. You’ll save on fees and there’s less risk of losing your ATM card. Don’t carry all that cash with you and not in one place. I hide a couple thousand baht in my bras, suitcase liner, a book, toiletry bags, and of course the room safe. Make a list of your hiding spots and tick off spots as you raid them. My trick is a list in code that would really only make sense to me. I keep the list in my phone and a notebook I carry around – if anyone else found it, it would look like gibberish, not my cash stash!

Pro tip: Break large bills are large stores. The fruit vendor may not be able to break 1000 baht bill, 7 Eleven definitely can.

Money exchanges are also fine, go with your hotel’s recommendation or shop around, comparing with Google rates but know it won’t be quite that high. Your twenty dollar bill will explode into 3100 baht so it feels pretty awesome.

Credit Cards

Make sure you put travel alerts on credit cards and banks before you go! A foreign transaction is a great way to get locked out of your card if your bank doesn’t know ahead of time. This is pretty easy to do, usually from your account page online. Make sure to include your layover areas as well so you can get a snack in China!

Most places do not take credit cards and certainly will not take one from every person at the table to split the bill. Fancier restaurants may give individual checks to guests but it’s the exception, not the rule. In general, Visa is the most accepted followed by Mastercard and rarely American Express or Discover. But beware!! Foreign transaction fees can be shocking when you get home. My Bank of America Travel Card did not charge any fees at all whereas my American Express Blue Sky card charged 2.7% of every transaction. Save credit cards for your room, maybe a tour, and a fancy meal. Otherwise, it’s cash baby!

Tipping

Although not expected or mandatory, Thais in tourist areas have become more accustomed and expectant of tips. At a minimum, leave the coins after a meal or add 10-15% to your bill. Tip in 20 baht increments for services like a luggage porter, like 20 baht per piece of luggage. Tip your Thai masseuse well and in cash! She earned it. I recommend  50-100 baht per 30 minute increment. 100 baht is just $3 so you can afford it!

Budget.

On the low end of things, you can eat and drink for 500 baht per day, IF you go more local style. On the high end, eating in air con Western style restaurants, it’s closer to 1300+ baht per day. In my small town, 100 baht was plenty for daily life! A fair budget that balances both would be 700 baht per day for food, drink, basic necessities, and small shopping treats. It’s easy to spend 2000 baht shopping at a night market!

Yes, air conditioned restaurants charge more for the same meal you’d get on the street, which makes complete sense once you’re there sweating up a storm! Choose your own adventure!